Original Message:
Re: April Newsletter: Illegal to sell timeshare to companies that won't pay fees? (by R P.):
lancec13 wrote:Keep in mind too that it's, as you put it, "industry lobbyists" (ARDA) who are pushing for this law.On the surface, it sounds like a good law protecting owners from rising maintenance fees due to defaulting owners but, on the other hand, it will likely make things more difficult for owners who want to sell or give away their timeshare when they want or need to.
Even though ARDA (American Resort Developer Assoc) is a timeshare lobbyist group, it is in the best interest for all resorts (whether controlled by a developer, management company or HOA) for this law to be enforced.
Something needed to happen to keep the lowlife PCCs, bogus charities and other scammers from ripping off resorts and other owners (they have to take up the slack in higher maintenance fees for the deadbeats that simply let it go into foreclosure).
When one signs a legal contract (and the buyer supposedly read and signed it) to buy a timeshare then they have to be aware that they own that timeshare for life or until it changes ownership .... it's just like buying a car, house, boat etc. .... you own it until it changes ownership (sold). The timeshare and owner is also listed in courthouse deed records in all counties.
I've been reading on TUG that many members think there should be a way for timeshare owners to get out of their contract/maintenance fees by the resorts (deed in lieu of foreclosure, etc). The resorts are not in business to take back ownership ... owners should find their own way to rid themselves of their timeshare by giving it away or by other legal means.
One member on TUG that owns a tremendous amount of Wyndham Points and rents his units out boldly stated that if he could no longer afford or he wants to get rid of his Wyndham points that he would simply default (to h-ll with all the other owners) .... this is no way to operate a business yet he boasts about defaulting if that time should come.
I hope Florida follows through with this law.